$JupUSD shouldn’t be analyzed as “another dollar on Solana.”
From my perspective, it’s a control-plane decision about where settlement authority lives inside a multi-product financial system.
That distinction is structural, not cosmetic, and it matters more than the stablecoin itself.
— 📌 How @JupiterExchange Collapsed Its Monetary Stack
Before $JupUSD, Jupiter’s stack was horizontally integrated but monetarily fragmented.
• Spot executed against
$USDC liquidity
• Perps collateralized in
$USDC • Lending positions tracked separately
• Prediction markets settled externally
Each product worked i